EUR/JPY may fall 100 - 148 pips

156.87 is our pivot point.

Our preference

Target 154.75.

Alternative scenario

Above 156.87, look for 157.67 and 158.14.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (156.49) but above its 50 period moving average (156.11).

Supports and resistances

158.14 **

157.67 *

156.87 **

156.56

156.23 last

155.23

154.75 **

154.28 *

153.81 **

Number of asterisks represents the strength of support and resistance levels.